Mountain Warehouse profits scale new heights

Outdoor clothing chain Mountain Warehouse today said it plans to open 40 more stores this year after posting its third year of record profits.

Cycling-related sales gave Mountain Warehouse a boost

The retailer said sales in the year to 28 February grew 20 per cent to £109.9 million, with customers snapping up more than one million waterproof jackets.

With takings also receiving a boost from a 43 per cent increase in cycling-related sales, pre-tax profits jumped 25 per cent to £12m.

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Founder and chief executive Mark Neale said the firm opened 34 stores during the year, taking its estate to more than 200 outlets, and it is targeting up to 40 more openings this year in a move that would create up to 300 jobs.

Neale said: “We have continued to thrive in a challenging UK retail environment, demonstrating that high street retail can succeed so long as you have the right products at the right price.

“Trading in the new financial year has continued with the same positive momentum as we saw last year. In the UK, we are now gearing up for the camping and festival season, and so far sales of our tent and camping range have increased by more than 100 per cent compared with last year.”